After going over their financial records for 2017, DAMAC Properties, PJSC, has determined that they made AED 7.5 billion. This is an improvement of 4% over 2016. They also were able to deliver 30,246 units by the end of 2017. This amount of units is considered to record number for the industry.
By the end of the year, DAMAC was able to books sales that amounted to AED 7.5 billion. In 2016, they had sales of AED 7 billion. They were able to finish 2, 304 units and that brought the total to 20,236 units by the end of 2017.
DAMAC believes that the property market in Dubai will continue to show growth and that there will be an increase in demand returns to this market. This growth is shown in DAMAC’s booked sales. Their outlook for the future. Local investors, as well as international investors, still have a strong interest. in Dubai real estate market. They are interested in DAMAC’s projects like AKOYA Oxygen, AYKON City and DAMAC Hills.
The diverse portfolio of DAMAC attracts many buyers to their properties., according to Hussan Sajwani, a chairman of DAMAC properties.
Sajwani’s career began in 1981 at the finance department in the Abu Dhabi Gas Industries. He soon started his own catering company that had customers from the US military and the Bechtel company. This company is still in operation and is called Global Properties.
In 2002, he founded DAMAC Properties, a company that eventually became of the biggest property development companies in the Middle East. Since it started, the company has been able to develop 19,000 apartments and is currently developing about 44,000 units that are different stages of improvement.
The IPO for the company on the Dubai Financial Market was in 2015.
Some of the projects that have made the DAMAC famous are luxury apartments that have interiors that reflect the designs of Fendi and Versace fashion houses, a golf course that was designed by Tiget Wood and run by The Trump Organization and luxury villas that were built with the cooperation of Paramount Pictures.